Sri Lanka President Mahinda Rajapaksa will declare open the MAS Holdings' first state-of-the-art, privately owned industrial fabric park, the MAS Fabric Park at Thulhiriya in the Northwestern Province of Sri Lanka today.
The previously state owned Thulhiriya textile mill was later sold to a Korean company that later suspended operations and the investors fled the country.
The government paid compensations to the workers and the factory was auctioned to a private company. In July 2006 the government signed an agreement with the MAS Holdings to redevelop the textile mill and revive it as a textile industrial zone with international standards at a cost of US $100 million.
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